Genting 004 and Yongnam 001
This construction company’s stock is touted to have the most potential in bagging many of the IR’s project with half a billion dollars. Given the sunrise situation for the section, the price of the stock is slowly trending up. A news release on being awarded any tenders will send its price soaring. MAs are showing good sign in long run and stocks are being accumulated, giving this counter a push up. Buying pressure seems to be increasing from CMF.
A disappointment over a news report on the correction of Minister’s statement because it has cause sentiments to be subdued for these 2 days. Shall i hit myself on the head for not taking profit when the counter soared to a high of $1.12? And bash myself even more for sinking in for funds @ $1.07?
CMF is trending downwards, giving a bearish outlook for the moment. The trend for the past month is rising but mostly fed from news reports. I am waiting for another confirmation from the price movement in a few days time. As below, if the price hits below $0.96 on the 20th, the uptrend might be broken though unlikely.
MAs indicate good mid to long term gain as the 25d MA cuts the 50d MA. Let’s see how things go from here.
*My beginner’s TA analysis
*Stumped: what is the time frame reference for a proper trend setting?
